First, if you haven’t caught it yet, we’re in week 3 of a new weekly top 5 video edition of Long Reads Sunday produced in collaboration with @blocktv and coming out the subsequent Monday. Check out last week’s highlights https://twitter.com/nlw/status/1138218516228771840
Third, next week is the 1 YEAR ANNIVERSARY of LRS. Keep your eyes peeled for something special.
Long Reads Sunday #51. Oh. My. God. This week. Facebook libra squads up. Binance says Bye Bye miss American pie. Mass delistings. State power resurgent. Meeker snubs. MF’ing Pomp’s MF’ing birthday. Bitcoin doesn’t sleep and neither do I on week’s like this! Strap in, kids, it’s long reads time! https://twitter.com/RussellOkung/status/1139725012724674560
3/ But then, like a SCOOPS AI from the future, @fintechfrank swooped in on Friday with the *entire* list of kick off partners for Libra, including investment firms, nonprofits, telcos, e-commerce, travel, music, ride-sharing, and payments. https://twitter.com/fintechfrank/status/1139609210470248448
4/ There is a LOT to unpack here. A good starting point comes from @Melt_Dem, who jumped on @CNBCClosingBell to talk about Facebook Libra and then threaded a summary, including why they’re so interested (hint hint: it’s the data, silly) https://twitter.com/Melt_Dem/status/1139661512623177733
7/ The reality is, of course, that most people feel a bit of both sides of this, and that in practice, it is likely to have elements of both - a challenging force that runs counter to privacy and data sovereignty while also a massive on ramp for Bitcoin and crypto recruits https://twitter.com/petermccormack/status/1139434804418633729
11/ Okay, literally if Facebook was all that was going on, it would be a friggin’ insane week over here in crypto world, but NOPE. We had a big announcement from @Binance that US customers would be kicked TF off its main site starting in September. https://twitter.com/mdudas/status/1139465249160081409
12/ Again, different people took different stances on this. One school of thought said simply “Good riddance shitcoin casino.” Another argued that new, compliant Binance would be stronger than ever. @lawmaster was *not* buying it https://twitter.com/lawmaster/status/1139436194708766720
13/ Others pointed out that this move felt like something long planned, as witnessed by the announcement of both Binance DEX and Binance.us - a regulated US-based exchange from the company. @cz_binance denied a grand scheme behind it, but only a little https://twitter.com/cz_binance/status/1139868303201992706
14/ For me, the crazy thing was to see how a country that prides itself on being on the bleeding edge has investors denied from participation in a new global industry and entrepreneurs actively looking elsewhere. Strange narrative times. https://twitter.com/nlw/status/1139496043387772929
16/ And oh, by the way, it wasn’t just @Binance that suggested there was some writing on the US regulatory wall. On Friday night @BittrexUS also announced the delisting of some ~40 assets for US customers. #NarrativeWatch: Mass delistings. https://twitter.com/bittrexus/status/1139699139757744130
18/ In one of the 50+ amazing tweets of what was undeniably the thread of the week, @nic__carter argued vociferously that it is not paradoxical to be glad to be rid of bad tokens & their exchange homes while also being less than enthusiastic about the state power that compels such action https://twitter.com/nic__carter/status/1139257692164382725
22/ It might have been a bit of Binance, and a bit of the Facebook panopticoin potential that got everyone thinking about this, or it might have been on Hong Kong, where protesters against a deportation bill were terrified to use their subway cards for fear of being tracked https://twitter.com/katherineykwu/status/1138808443438030848
25/ My strong feeling is that the discussion of crypto vs the state (i.e. sovereignty vs surveillance) is going to continue to grow. In that, though, there were some also interesting developments on our side of the fight as we met two new technologies attempting to address internet access itself as a venue for state power.
26/ The first was @helium, which is effectively a peer-to-peer alternative to telcos, powered by a tokenized citizen network of hotspot operators. The company announced $15m from @usv @multicoin and others and @kylesamani explains why they’re so excited https://twitter.com/KyleSamani/status/1138855203501944832
28/ Interestingly, @helium wasn’t the only ISP related project announced this week. @GoTenna and @GlobalMeshLabs announced a collaboration designed to leverage Lightning to create a mess messaging network that functioned entirely outside of carriers & ISPs https://twitter.com/danielaperdomo/status/1138503920236544005
29/ We are clearly entering wild new times on a global level, in which the balance of power is shifting in ways that are at once massive and indeterminate. We are all pushing out in all directions to drive this liminal state to a place of promise.
30/ It would be easy enough to end there and give you all a chance to go grab your chosen beverage, relax for Father’s Day (or just Sunday Funday) and be done with it. But, nawww, too much happening to stop now. A few more before we wrap.
31/ Let’s shift our attention to something a little more fun, shall we? @daltonan was at the massive gaming expo E3 this week, and threaded this interesting conversation with one of the world’s biggest game platforms about the state of blockchain gaming https://twitter.com/daltonan/status/1138952850564820992
33/ Speaking of NFTs and digital art, @simondlr published a fascinating piece on his experiments with “Patronage as an Asset Class” - which combines a number of areas of research and thinking including NFTs as well as new economic and market models https://blog.simondlr.com/patronage-as-an-asset-class
36/ In everyone’s favorite FUD bucket of Bitcoin energy, another one of the more complexity centric thinkers in the space @mrauchs summed up what he called “the best analysis of Bitcoin’s total electricity consumption” he’s seen https://twitter.com/mrauchs/status/1139148807139155970
37/ Speaking of FUD, can you believe that Mary Meeker’s Internet Trends 2019 didn’t include a SINGLE SLIDE on crypto or Bitcoin? Luckily for us, we have some of the most incredible data and data crunchers in the world, as this thread shows. https://twitter.com/nlw/status/1138821744838492160
44/ Phew, we made it. Now, just a couple more announcements on the personal front!
45/ First, if you haven’t caught it yet, we’re in week 3 of a new weekly top 5 video edition of Long Reads Sunday produced in collaboration with @blocktv and coming out the subsequent Monday. Check out last week’s highlights https://twitter.com/nlw/status/1138218516228771840
47/ Third, next week is the 1 YEAR ANNIVERSARY of LRS. Keep your eyes peeled for something special.
48/ And lastly, AS always, you can get LRS delivered directly to your inbox every Sunday by signing up here. https://www.getrevue.co/profile/nlw
THANKS AS ALWAYS and HAPPY FATHERS DAY to all the crypto dad’s out there! Have some fun!